ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Saturday Nov 25th 2017
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Event

Submit an event for consideration on ETHNews

Submit Event

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Events
Contact Us

ETH/USD Forecast: Recovery Capped By $180

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether regained the bullish ground against the US Dollar and Bitcoin during the past few sessions. Buyers need to push ETH/USD above $180 to challenge $200.

Key Highlights

The ETH/USD pair recovered well, but struggling to go through the $175-180 resistance.
On the downside, there is a decent support forming near $160.
ETH/BTC remains elevated with chances of a break above the 0.080BTC resistance.

Technically, the hourly chart indicators are slowly moving higher in the bullish territory.

Ether Price to Consolidate Short-term?

The ETH/USD pair bounced back after plummeting by the end of last week towards $110-115, and currently trading above the $150-160 support area.

Ether Price Technical Analysis Chart

Further recoveries seem likely, but as mentioned in the weekly analysis, the pair faces a crucial challenge near $175-180. The stated resistance zone was already tested once recently, but thin trading prevented a break above $180.

The price moved lower and tested the 23.6% Fibonacci retracement level of the last wave from the $115 low to $178 high. In the short term, the $160 support area may continue to prevent downsides.

There is a bullish trend line with support at $165 forming on the hourly chart. On the flip side, there is a connecting bearish trend line with resistance at $170.

We can consider the current technical structure as a short-term breakout pattern. A break below the trend line support might call for a test of $160, and if buyers clear the $170 resistance, there can be a test of $180.

Ethereum ETH USD Forecast

If the market try to retest $160, then it may act as a strong support for a subsequent bounce. Below $160, the next important support is at $145-143.

On the upside, the 4-hour chart clearly points the significance of the $175-180 resistance, and it may continue to prevent further gains.

Should there be a break above $180, the market may attempt to test sellers at $200. With the ongoing ETH/USD recovery looking so far positive, the risk is still towards the upside. Thus, pullbacks towards $160 or $145 remain supported in the near term.

Important Resistance Levels

$175.00 and $180.00

Important Support Levels

$160.00 and $145.00

Hourly RSI

The RSI is above 50 and has managed to correct extreme oversold readings.

Hourly MACD

The MACD suggests increasing buying interest around the pair.

Aayush Jindal

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets

ETHNews is commited to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ether Price, Ether Price Chart and Ethereum Analysis News.

Disclaimer
The content on ETHNews.com is provided for informational purposes only and it is not intended to be, and does not, constitute financial advice or any other advice. You should not rely on any ETHNews.com content to make an investment decision. ETHNews.com is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.